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UBS just raised its S&P 500 price target for the 4th time this year. Here's how it says stocks can soar 17% by the end of the year.
UBS increased its S&P 500 year-end price target to 5,900, marking the fourth increase from the bank this year. UBS said favorable market conditions remain due to profit growth, disinflation, and AI investments. It added that the S&P 500 could surge 17% to 6,500 by year-end in a bull-case scenario.
Stock market today: Indexes trade mixed amid massive CrowdStrike IT outage
US stocks were mixed on Friday amid a global tech outage sparked by Crowdstrike's cybersecurity platform. A Crowdstrike bug caused disruptions across industries that rely on Microsoft's Windows system. Investors are paying close attention to second-quarter earnings results, which could make or break the year-to-date rally in stocks. US stocks...
Stock market today: Dow falls 533 points as tech rout spreads to the broader market
Major stock indexes were down sharply for a second day on Thursday. A mega-cap retreat expanded into a broader rout, and the S&P 500 fell over 1%. Meanwhile, higher-than-expected jobless claims boosted confidence in a rate cut this year. US indexes declined sharply for a second session this week, as...
PIMCO economist says fears of a US debt crisis are overblown - for now
PIMCO economist Peder Beck-Friis says that high US debt levels do not pose an immediate threat. History shows that policymakers will eventually tackle the issue, he wrote in The Financial Times. Before that happens, volatility will rise in financial markets and the macro economy, he noted. Investors shouldn't fear US...
The rout in tech stocks is a 'golden buying opportunity' for investors, analyst says
The recent tech sell-off is a "golden buying opportunity," according to Wedbush. The midweek rout in tech stocks was partly triggered by Trump's hawkish comments about Taiwan. But solid earnings results in the second-quarter should spark a rebound in the tech trade, Ives said. The sell-off in technology stocks represents...
Why a recession will strike in 2025, according to a veteran economist
The US economy is set to enter a recession by early next year, according to Steve Hanke. The economist pointed to a troubling trend in the money supply in an interview on YouTube this week. He predicted inflation will likely fall below 2% as economic activity slows. The US hasn't...
Palantir stock has 67% upside amid rapidly rising demand from big businesses for AI tools, Wedbush says
Palantir stock is a top AI play that's undervalued by Wall Street, Wedbush analyst Dan Ives said. Ives pointed to deals with government agencies and businesses to back up his $50 per share bull case for 2025. Palantir is up 64% this year, outpacing the wider software sector's 15% gain.
Jamie Dimon thinks the Fed should wait longer to cut interest rates
Jamie Dimon says the Federal Reserve shouldn't be in a rush to cut interest rates. He told the Swiss newspaper NZZ that several factors could cause inflation to rebound. It's a point he's made consistently this year, in contrast to the market's soft-landing optimism. The market is laying bets that...
Stock market today: Indexes rise as tech tries to bounce back after chip rout
Stocks moved mostly higher after tumbling in Wednesday's session. Semiconductor stocks on Wednesday led the Nasdaq to its worst day since 2022. Weekly jobless claims were higher than expected, boosting rate cut hopes. The stock market was looking to stage a rebound after a plummet in semiconductor stocks led to...
Wall Street sees this opaque corner of financial markets as the likeliest source of a credit crisis, Bank of America says
Shadow banking tops commercial real estate as the most likely source of a credit event, according to a BofA survey. Alarm has risen over private credit, given its rapid growth and loose oversight. Investors are still optimistic on the economy, and 68% expect a global soft landing. Bank of America's...
Chip stocks suffer a mini-meltdown as more potential trade restrictions threaten the industry
Hello, and it's Emmy-nominated Business Insider to you! Our docuseries "Quiet on Set: The Dark Side of Kids TV" was nominated for two Emmy awards: Outstanding Picture Editing For A Nonfiction Program and Outstanding Documentary Or Nonfiction Series. The docuseries was based on BI's reporting of toxic work settings on Dan Schneider's Nickelodeon shows.
The 'Trump trade' is winding down, and the Fed's rate plans are back in focus
Barely a week after the failed assassination of former US President Donald Trump, investors are already moving on from the "Trump trade." The "Trump trade" refers to investor strategies that reflect the market consequences of a second Trump presidency. This trade was in full display on Monday — the first trading day after the Saturday assassination attempt.
Why the stock market's rotation into small-caps will be short-lived
The recent surge in small-cap stocks appears unsustainable, according to Capital Economics' John Higgins. Higgins said the fact that large-cap stocks are still near record highs suggests no rotation has taken place. "We are not convinced" of a rotation from large-cap stocks to small-cap stocks, Higgins said. The rapid and...
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